Russian government to subsidize production of rare earth metals

MOSCOW, January 24. /ITAR-TASS/. Russia’s Prime Minister Dmitry Medvedev has inked an order to subsidize investment project in production of rare earth metals, the government’s press service reports.

“Between 2014 and 2016, the subsidies will make 735.2 million rubles (about $21.6 million), where in 2014 — 11.2 million rubles (about $635,000), in 2015 — 133.3 million rubles (about $4 million), and in 2016 — 590.8 million rubles (about $17.4 million),” the press service said.